When it comes to international trade, it is important to have a clear understanding of the Harmonized System (HS) codes. These codes are used by countries around the world to classify and categorize goods for import and export purposes. One such HS code is 55152900, which represents woven fabrics of acrylic or modacrylic staple fibers, nesoi.
Acrylic and modacrylic fibers are synthetic fibers that are commonly used in the textile industry due to their durability and resistance to wrinkles, shrinkage, and fading. Fabrics made from these fibers are known for their softness and warmth, making them popular choices for clothing, home textiles, and upholstery.
The HS code 55152900 specifically refers to woven fabrics made from acrylic or modacrylic staple fibers that are not elsewhere specified or included. This means that it covers a wide range of fabrics that do not fall under any other specific category within the HS code system.
When importing or exporting goods classified under HS code 55152900, it is important to be aware of the applicable duty rates. The bound or Most Favored Nation (MFN) duty rate for this product is free. This means that countries must lower their trade barriers or open up their markets for the same goods or services from all trading partners.
Additionally, there are special tariff preference programs in place for HS code 55152900. These programs offer preferential duty rates to certain countries. For example, Bahrain, Canada (under NAFTA), Chile, Israel, Jordan, Mexico (under NAFTA), Oman, Peru, Singapore, and the Dominican Republic-Central America (under DR-CAFTA) enjoy duty-free treatment for this product. Australia has a special rate of 3%, while Morocco has a special rate of 1.2%.
It is worth noting that the quantity unit for HS code 55152900 is square meters (M2). This means that the measurement of the fabric for import or export purposes is done in square meters.
Importing and exporting of goods classified under HS code 55152900 can take place between various US states and other countries. The specific states involved in the import or export process may vary depending on the trading partners and their respective domestic markets.
HS code 55152900 represents woven fabrics made from acrylic or modacrylic staple fibers that are not elsewhere specified or included. Understanding the duty rates and special tariff preference programs applicable to this HS code is essential for smooth international trade. Whether you are a buyer, seller, or involved in the logistics of these goods, having a clear understanding of the HS code and its implications is crucial for successful trade transactions.